Spot market power rates increased this month

By Alena Mae S. Flores – December 14, 2022, 7:45 pm
from manilastandard.net

The Independent Electricity Market Operator of the Philippines said Wednesday spot market prices went up to P9.12 per kilowatt-hour in the first few days of December, an increase of P0.59 per kWh from November.

IEMOP, the operator of the Wholesale Electricity Spot Market, said there was an increase in demand and a decrease in the level of supply based on data until Dec. 11. Data showed that WESM prices for the November billing were at P8.53 per kWh.

Officials said they would determine the final WESM price for December at the end of the billing period.

Power demand increased in December to 10,499 megawatts while supply was at 12,534 MW, translating into a supply margin of 2,085 MW.

IEMOP knowledge management services assistant manager Jocell Co said power demand could still grow this month because of the Christmas celebration.